SEATTLE (AP) - Washington state's insurance commissioner says President Barack Obama's proposal on old insurance policies isn't a good deal for Washington citizens.Commissioner Mike Kreidler said Thursday he won't allow insurance companies to extend their old policies that didn't meet the requirements of federal health care reform. An estimated 290,000 Washington residents have received notices that their old insurance policies will be canceled.
"Trying to do what the president has proposed would be very disruptive to the insurance market in the sate of Washington so no, we will not be allowing insurance companies to extend these policies," he said. "You'd have to go back and re-rate all of the policies, and the premises for what they originally proposed rates would all change."
Kreidler, a Democrat, says all of them can get better coverage on the new health care exchange. He says at least half of them will qualify for a subsidy to help them pay the premium.
"I have empathy for these people, I certainly feel for them, but at the same time, people really have a chance right now to shop and compare various health plans and make some decisions that best fits themselves and their families in ways that could never do before," Kreidler said. "But if you wind up extending these current plans that are out there, you really disrupt the ability for that to happen."
When asked if he was worried his decision was going to upset those who just heard earlier in the day they could keep their insurance, Kreidler replied that having the new policies that meet minimum coverage requirements will be beneficial to them in case of a major health incident.
Via: Weekly Standard
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